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Daimler's Zetsche hopes Mercedes to top premium car market by 2020  Join our daily free Newsletter

MENAFN - 30/12/2012

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(MENAFN) German luxury automaker Daimler is looking to regain top spot by the end of this decade, Reuters reported, citing a local newspaper.

According to Boersen-Zeitung, CEO Dieter Zetsche is aiming to put the maker of Mercedes Benz ahead of Audi and BMW in the premium car market by 2020.

The paper quoted him as saying that he hopes to reach that target during his time in office. Zetsche's contract currently runs until December 2013 but is expected to be extended by three years in February.

Daimler has already promised to reduce costs by USD2.6 billion at the Mercedes-Benz division by the end of 2014 after warning in October that it would miss its operating profit target this year by USD1.3 billion.

Zetsche told the paper that Mercedes had failed to keep up with its rivals in the compact car market and in China.

 






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